Amex Makes New Gold Discovery at Perron, the Rose Zone, Approximately 165 m Below Fully Financed Ramp Development
Amex’s Early Rose zone returned narrow intersections near the ramp, highlighting the deposit’s proximity to infrastructure as a key development driver.
Amex Exploration Inc. (AMX) announced the discovery of a new gold zone, the Rosé Zone, at its 100%-owned Perron Project in Quebec. The zone is located approximately 165 meters below the underground ramp currently being developed for the bulk-sample program and future mine. The company reports that the zone can be traced for 275 meters of vertical extent and 70 meters of strike, remains open in multiple directions, and was observed to contain visible gold in the deepest hole reported.
Headline Rosé Zone intercepts include: * PE-26-934: 8.02 g/t Au over 4.30 m, including 23.93 g/t Au and 8.80 g/t Ag over 1.15 m at ~210 m vertical depth. * PE-26-908: 11.78 g/t Au over 1.80 m, including 30.86 g/t Au and 4.70 g/t Ag over 0.65 m at ~290 m vertical depth. * PE-25-878: 10.94 g/t Au over 1.20 m, including 21.22 g/t Au and 4.30 g/t Ag over 0.55 m at ~280 m vertical depth.
The release also reports N110 Zone hole PEX-26-319 returned 43.41 g/t Au over 1.20 m, including 82.70 g/t Au over 0.60 m. Central Polymetallic Zone hole PEG-25-888 returned 4.09% Zn, 0.82 g/t Au and 2.03 g/t Ag over 1.50 m, including 11.35% Zn over 0.50 m at ~675 m vertical depth. Perron West initial assays include 22.20 g/t Ag, 0.29% Cu and 0.34% Zn over 1.20 m in PW-26-002, plus highly anomalous gold intervals in PW-26-010 and PW-26-012 described as visual or encouraging.
A large assay backlog remains, with 3,765 Quebec samples outstanding, 6,021 Ontario samples outstanding, plus 1,654 soil samples.
Amex Exploration Inc. (AMX) released drill results from its advanced development project, which already holds measured and indicated resources of 1.615 moz Au at 6.14 g/t Au and inferred resources of 698 koz Au at 4.31 g/t Au. The company has completed a Phase 1 Feasibility Study outlining approximately 774,500 oz in Proven and Probable reserves at 12.1 g/t Au, producing 147,000 oz/year with an AISC of US$910/oz, an after-tax NPV of C$1.13 billion and an IRR of 114.6%.
The stock has re-rated substantially over the provided period, rising from about $2.66 in September 2025 to $4.56 most recently. This price level embeds the high-grade resource and the feasibility study.
The Rosé Zone represents a new near-mine discovery, but today’s intercepts are too narrow, too few and too early to change the resource, mine plan or NAV. The proximity to existing development is a genuine positive and may make future ounces lower-risk to access, but no economic assumptions can yet be made on the Rosé Zone.
The N110 result is high-grade but narrow and remains in Inferred resources. Perron West is a separate, very early-stage exploration story that does not yet add value.
Amex Exploration Inc. (ticker AMX) is an advanced gold exploration and development company focused on the Abitibi region of Quebec and Ontario. Its flagship asset is the 100%-owned Perron Gold Project in Quebec, which comprises 183 contiguous claims covering 65.72 km². The company’s consolidated district land package, including the Perron West, Abbotsford, and Hepburn properties, spans approximately 570.94 km².
The Perron project hosts high-grade gold zones, VMS mineralisation, and hybrid gold-rich VMS mineralisation. Amex Exploration has completed a Phase 1 Feasibility Study based on toll milling and underground mining, with strong economics as summarised above. A 40,000-tonne bulk sample program is underway, with the portal complete and underground ramp development begun by CMAC-Thyssen. The project benefits from year-round road access, airport proximity, and nearby processing plants.
No revenue is currently generated; the company is funded through equity raises, including a C$79.7 million placement completed in 2026, with strategic investor Eldorado Gold holding approximately 26.9%.